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HOUSE PROPERTY?

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Querist : Anonymous

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Querist : Anonymous (Querist)
14 July 2011
Is ownership of property necessary for claiming deduction of interest paid on housing property and claiming deduction u/s 80C???
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BALASUBRAMANYA B Npro badge

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BALASUBRAMANYA B Npro badge (Expert)
14 July 2011 Its not necessary but it can reduce your income and tax liability if anything there to pay..If its below taxable income than no need to show the details of HP....
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U S Sharma

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U S Sharma (Expert)
14 July 2011 80C provisions are to be claimed on actual payment basis, use proper banking channels to establish the payment and claim,
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hshivakumar

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hshivakumar (Expert)
15 July 2011 yes ownership of the property is very important otherwise how you will get repayment receipt in your name.

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